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Wednesday, July 13, 2011

Instant Funds for Project Creators

A while back we were forced by PayPal to essentially offer a no refund policy. Simple fact of the matter was that their system didn't allow for us to effectively refund people's money without getting our account locked down. Frustrating to say the least.

The good news is that, since we no longer are able to offer refunds, we've instead changed our system so that project starters are able to get their money immediately. Instant gratification for all!

Essentially what happens is that a contributor will continue to fund your project via PayPal. It used to be that that money would then funnel into our account where we'd hold onto it until we would release it to you after your project finished funding. Instead, once a contributor funds your project now it will be deposited directly into your account minus our fee. So, if somebody contributes $10 to you, you'll see that $10 in your account immediately and you'll have access to it right away.

Everything else remains the same. Perks still need to be fulfilled as you are able to fulfill them. It's just now you can use the money as it comes in as opposed to needing to wait until an arbitrary date is finished to get your money.

We'll be going through our current projects now and funding them what they've earned up until now. From that point on, all contributions will come directly from users.

If you have any questions please sound off in the comments!

P.S. Redesign is still coming. Looking good! Can't wait to move it live...